The transition to a low carbon economy offers an extraordinary economic opportunity for the UK and one which the Tees Valley is well placed to capture.
Tees Valley Combined Authority in partnership with NEPIC and KPMG is working to produce a new strategy to reinforce the region’s low carbon credentials. A clear understanding of the economic and technological potential will help to maintain the region’s competitiveness, increasing business and economic activity whilst simultaneously reducing carbon emissions.
A strategy will be developed over the next 6 months working with stakeholders across the region and nationally. The Tees Valley possesses many of the natural and industrial assets that offer the potential for investment, business growth and job creation in a low carbon world.
The aim is to demonstrate clearly the contribution Tees Valley can make with its industry by deploying developments such Carbon Capture Storage & Utilisation, district heating, the hydrogen economy (including its use for heat and transport) and large scale energy storage.
Over the last 2 years the Combined Authority has been looking at a wide range of opportunities to tackle climate change whilst securing current and future investment and jobs in the very important energy dependant industries.
The team has been working on these options and aims to take the work to the next level with this new collaboration. By developing a strategic action plan that sets out this potential in detail, the region can assess where growth will come from; what actions are required to meet the targets and ultimately develop an operational plan for implementation.
Tees Valley Mayor Ben Houchen said:
“The question of what is the best path for the Tees Valley in making its contribution to national objectives – currently an 80% reduction by 2050 in greenhouse gas emissions – now needs to be answered. What are the right developments for the region, which secure prosperity and help the whole country meet its commitments?
“This new body of work will demonstrate how we’ll lead the development of a new industrial economy for the Tees Valley and build on its strengths to show how a low carbon future can be achieved for the UK whilst developing innovative opportunities for our existing industry.”
NEPIC chief executive, Iain Wright, said:
“Tees Valley’s ambition for a modern and prosperous low carbon economy is a really exciting opportunity. We led the world in steel and chemicals and similar determination will ensure that we are at the fore of low carbon manufacturing too. Our industry and infrastructure is distinctive, lending itself to the Tees Valley steering the UK’s transition to a sustainable future. Such work will not only help to maintain our manufacturing competitiveness and strength but also shape new industries, companies and jobs.
“I praise the Combined Authority’s determination to be ahead of the pack in producing an ambitious strategy in this area. I am delighted that NEPIC has been chosen to participate, providing unrivalled local industrial knowledge and coordination, technical expertise and awareness of international opportunities and global best practice. I hope our work together in this field will help to usher in a new era of prosperity for Tees Valley-based industry.”
Duncan Michie, Director at KPMG, said:
“We are pleased to support Tees Valley Combined Authority and NEPIC in realising the region’s ambitions for economic growth and competitiveness, while cutting its carbon output. The adoption and implementation of low-carbon technologies across the Tees Valley’s industrial and residential areas requires collaboration between the business community, Government at all levels, and industry groups like NEPIC, and we are proud to be part of it.”